The Ulster Society for Prevention of Cruelty to Animals
Company Limited by Guarantae
Statement of Financial Activities
(including income and expenditure account)
Year ended 31 March 2025
2026
Restricted
funds Total funds Total funds
2024
Unrestricted
funds
Nots
In¢orne and endowments
Donations and legacies
Charitable activities
other trading income acb'vities
Investment incorne
Other income
2,046,342
474,604
477,003
61,746
100,794
2,046.342
628,778
477,003
61,746
100,794
3,314,663
1.379,879
422,583
342,558
73,064
2,465
2,220,549
154,174
Total Income
3,160,489
154,174
Exponditur•
Expenditure on raising funds..
Costs of other trading activities
Investment costs
Expenditure on charitable activities
Total expendlture
10
11
12
297,582
6,289
1,845,932
297,582
6,289
1,980,106
2,283,977
336,540
4,594
1,562,830
134,174
2,149,803
134,174
1,903,964
Net gains on investments
14
73,054
73,054
109,194
Net Income and net movement In funds
1,083,740
20,000
1,103,740
425,779
Reconclllatlon of funds
Totsi funds brought forward
Total funds carrled forward
3.628,701
3.626,701
4,730,441
3,200,922
3,626,701
4.710,441
20,000
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The notes on pages 27 to 40 forni part of these flnancial slatements.

The Ulster Society for Prevention of Cruelty to Animals
Company Limited by Guarantee
ststement of Financial Position
31 March 2025
2025
2024
Note
Fixed assets
Intangible assets
Tangible fixed assets
Investments
18
16,333
19
1.011,804
20 2.181,694
3.209,831
1.071,995
2.321,704
3,393,699
Current assets
Stocks
Debtors
Cash at bank and in hand
21
22
50,369
1,680,715
253,716
50,551
41,331
613,263
1,984,800
705,145
Credltors: amounts falling due withln one year
Net current assets
23
153,542
1,831,258
139,653
565,492
Total assets less current liabilities
5,041,089
3,959,191
Cr•dltor8: amounts falllng due after morn than on• year
Net a88et8
24
310,648
4,730,441
332,490
3.626,701
Funds of the charlty
Restricted funds
Unrestricted funds
20,000
4,710,441
26 4,730,441
3,626,701
3,626,701
Total charity funds
These financial statements have been prepared in accordance wilh the provisions applicable to
companies subject to Ihe small companies, regime.
These financial statements were approved by the board of trustees and authorised for issue on 20
November 2025, and are signed on behalf of the board by..
J Farrell {Chair)
Trustee
P Kearney (Hon. Treasurer)
Trustee
The notes on pages 27 to 40 fomi part of these financial statements.
25

The Ulster Society for Prevention of Cruelty to Animals
Company Limited by Guarantee
Statement of Cash Flows
Year ended 31 March 2025
2025
2024
Cash flows from operating activlties
Net income
1,103,740
425,779
Adjustments for
Depreciation of tangible fixed assets
Amortisation of intangible assets
Net gains on investments
Dividends, interest and rents from investments
Other interest receivable and similar income
Interest payable and similar charges
Gains on disposal of tangible fixed assets
Accrued income
103,614
2,513
(73.054) (109,194)
(59,361)
(59,393)
(2,385)
(13,671)
29,783
30,034
(93,162)
(1,314,635)
115,851
(9,612)
Changes in..
Stocks
Trade and other debtors
Trade and other creditors
182
(330,092)
32,993
245
4,754
(5,861)
378,932
Cash generated from operations
(599,864)
Inierest paid
Interest received
{29,783)
2,385
(30,034}
13,671
Net cash (used in)Ifrom operating activities
(627,262)
362,569
Cash flows from investing activltles
Dividends, interest and rents from Investments
Purchase of tangible assets
Proceeds from sale of tangible assets
Purchase of intsngible assets
Purchases of other investments
Proceeds from sale of other investments
59,361
59,393
(47,153) (254,756)
3,730
(18,846)
(659,822) (884,632)
952,190
258,503
289,460
Net cash froml(u$ed in) investing activities
(821,492)
Cash flo￿ from flnancing activitie8
Proceeds from borrowings
Net cash used in financing activities
(35,603)
(35,603)
(34,201)
(34,201)
Net decrease In cash and cash equlvalents
Cash and cash equivalents al beginning of year
Cash and cash equlvalents at end of year
(373,405) (493,124)
613,263
1,106,387
613,263
239,858
The notes on pages 27 to 40 fom) part of these financlal statements.
26

The Ulster Society for Prevention of Cruelty to Animals
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2025
General Informatlon
The charity is a public benefit entity and a private company limited by guarantee, registered in
Northern Ireland and a registered charity in Northern Ireland. The address of the registered office
is Unit 6, Carnbane Industrial Estate, Newry, 8T35 6PQ.
Statement of complianc•
The financial statements have been prepared in accordance with Accounting and Reporting by
Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
(FRS 102) {effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting
Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
USPCA meets the definition of a public benefit entity under FRS 102
Accountlng policies
8asls of preparatlon
The financial statements have been prepared on the historical cost basis, as modified by the
revaluation of certain financial assets and liabilities and investment properties measured at fair
value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Golng concern
There are no material uncertainties about the charity's ability to continue.
Judgoments and key sour¢e8 of estlmatlon uncertalnty
The preparation of the financial statements requires management to make judgements, estimaies
and assumptions that affect Ihe amounts reported. These estimates and judgements are
continually reviewed and are based on experience and olher factors, including expectations of
future events that are believed to be reasonable under the circumstances.
Fund accountlng
Unrestricted funds are available for use at the discretion of the irustees to further any of the
charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or
commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through
the terms of an appeal. and fall into one of l)NO sub-classes.. restricted income funds or endowment
funds.
27

The Ulster Society for Prevention of Cruelty to Animals
Company Limited by Guarantse
Notes to the Financial Statements (¢on¢inued)
Year ended 31 March 2025
Accountlng pollcies {contlnued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has
passed to the charity- it is probable that the economic benefits associated with the transaction will
flow to the charity and the amount can be reliably measured. The following specific policies are
applied to particular categories of income..
income from donations or grants is recognised when there is evidence of entitlement to the
gift, receipt is probable and its amount can be measured reliably.
legacy income is recognised when receipt is probable and entitlement is established.
income from donated goods is measured at the fair value of the goods unless this is
impractical to measure reliably, in which case the value is derived from the cost to the donor
or the estimated resale value. Donated facilities and services are recognised in the accounts
when received if the value can be reliably measured. No amounts are included for the
contribution of general volunteers.
income from contracts for the supply of services is recognised with the delivery of the
contracted service. This is classified as unrestricted funds unless there is a contractual
requirement for it to be spent on a particular purpose and relurned if unspent, in which case
it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred Expenditure includes any
VAT which cannot be fully recovered, and is classified under headings ofthe statement of financial
activities to which it relales..
expenditure on raising funds includes the costs of all lundraising activities, events, non-
charitable trading activits'es, and the sale of donated goods.
expendilure on charilable activities includes all costs incurred by a charity in undertaking
activities that further its charitable aims for the benefit of its beneficiaries, including those
support costs and costs relating to the governance of the charity apportioned to charitable
activities.
other expenditure includes all expenditure that is neither related to raising funds forthe charty
nor part of ils expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs
attributable to a single activity are allocated directly to that activity. Shared costs are apportioned
be￿￿een the activilies they contribute lo on a reasonable, justifiable and consistent basis.
28

The Ulster Society for Prevention of Cruelty to Animals
Company Limitsd by Guarantee
Notes to the Financial Statements (contlnu•dJ
Year ended 31 March 2025
Accounting policies (continu•dJ
Intanglble assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any
accumulated amortisation and impairment losses. Any intangible assets carried at revalued
amounts, are recorded at the fair value at the date of revaluation, as determined by reference to
an active market, less any subsequent accumulated amortisation and subsequent accumulated
impairment losses.
Intangible assets acquired as part of a business combination are only recognised separately from
goodwill when they arise from contractual or other legal rights, are separable, the expected future
economic benefits are probable and the cost or value can be measured reliably.
Amortlsatlon
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value,
over the useful life of that asset as follows..
Website
13Vo Straight line
If there is an indication Ihat there has been a significant change in amortisation rate, useful life or
residual value of an intangible asset, the amortisation is revised prospectively to reflect the new
estimates.
Tangible asset8
Tangible assets are initially recorded at cost, and subsequently ststed at cost less any accumulated
depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded
at the fair value at the date of revaluation less any subsequent accumulated depreciation and
subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other
recognised gains and losses, unless it reverses a charge for impairment that has previously been
recognised as expenditure within the statement of financial activities. A decrease in the carrying
amount of an asset as a result of revaluation, is recognised in other recognised gains and losses,
except to which it offsets any previous revaluation gain, in which case the loss is shown within
other recognised gains and losses on the statement of financial activities.
Depreclatlon
Depreciation is calculated so as to write off the cost or valuation of an asset, less Its residual value.
over the useful economic life of that asset as follows..
Freehold propety
Premises Adaptations
Plant and machinery
Fixtures, fittings and equipment -
Computer equipment
2Q/o Straighl line
7Vo Straight line
10OA straight line
100A straight line
200/0 Straight line
29

The Ulster Society for Prevention of Cruelty to Animals
Company Limited by Guarantee
Notes to the Financial Statements (contlnueoj
Year ended 31 March 2025
Accounting policies (continued)
Investments
Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value.
If fair value cannot be reliably measured, assets are measured at cost less impairment.
Listed investments are measured at fair value with changes in fair value being recognised in
income or expenditure.
Investment property
Investment propety is initially recorded at cost, which includes purchase price and any directly
attributable expenditure.
Investment propety is revalued to its fair value at each reporting date and any changes in fair
value are recognised in income or expenditure.
If a reliable measure of fair value is no longer available without undue cost or effort for an item of
investment property, it shall be transferred to tangible assets and treated as such until it is expected
that fair value will be reliably m8asurable on an on-going basis.
Impalm•nt of flx•d assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable
amount being estimated where such indicators exist. Where the carrying value exceeds the
recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for
possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount
of an individual asset, an estimate is made of the recoverable amount of the Cash-generating unit
to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets
that includes the asset and generates cash inflows that largely independent of the cash inflows
from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from th8
acquisition date, allocated to each of the cash-generating units that are expected to benefit from
the synergies of the combination, irrespective of whether other assets or liabilities of the charity
are assigned to those units.
Stocks
stocks are measured at the lower of cost and estimated selling price less costs to complete and
sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing
the stock to its present location and condition.
D•finod contrlbution plans
Contributions to defined contribution plans are recognised as an expense in the period in which
the related service is provided. Prepaid contributions are recognised as an asset to the extent that
the prepayment will lead to a reduction in future payments or a cash refund.

The Ulster Society for Prevention of Cruelty to Animals
Company Limitsd by Guarantee
Notes to the Financial Statements (Contlnued)
Year ended 31 March 2025
Accounting poli¢ioS (conlinu•d)
Defined ¢ontributlon plans (conNnued)
+Vhen contributions are not expected to be settled wholly within 12 months of the end of the
reporting date in which the employees render the related service, the liability is measured on a
discounted present value basis. The unwinding of the discount is recognised as an expense in the
period in which it arises.
Limlted by guarantee
Each of the members of the company has guaranteed to contribute to the assets of the company
in the event of the same being wound up to the extent of £1.
Donations and legacles
Unrestricted Total Funds Unrestricted Total Funds
Funds
2025
Funds
2024
Donatlon8
Donations
Gift aid
120,462
7.560
120,462
7,560
123,934
3,228
123,934
3,228
Legacies
Legacies
1,911.267
1,911.267
1,244,717
1,244,717
Subscriptions
Subscriptions
7,053
2,046,342
7,053
2,046,342
8,000
8,000
1,379,879
1,379,879
Charltable actlvlti•s
Unrestricted
Funds
Restricted Total Funds
Funds
2025
Veterinary seriices
Contract Income - Newry and Mourne Council
Department for Communities
Dormant Accounts
The Pet Fund
Community Foundation
Fundraising Events
Adoption Fees
434,218
5,258
434,218
5,258
34,174
30,000
80,000
10,000
16,525
18,603
34,174
30,000
80,000
10,000
16,525
18,603
474,604
154,174
628,778
31

The Ulster Society for Prevention of Cruelty to Animals
Company Limitsd by Guarantee
Notes to the Financial Statements (¢ontlnuedJ
Year ended 31 March 2025
Charltable actlvltle8 (contlnu•d)
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Veterinary services
Contract Income - Newry and Mourne Council
Department for Communities
Dormant Accounts
The Pet Fund
Community Foundation
Fundraising Events
Adoption Fees
332,100
7,052
332,100
7,052
23,595
20,000
23,595
20,000
39,836
39,836
378,988
43,595
422,583
Other tradlng Income actlvltles
Unrestricted Total Funds Unrestricted Total Funds
Funds
2025
Funds
2024
Pet supplies shop sales
Grooming
Charity Stores
58,548
42,473
375,982
477,003
58,548
42,473
375,982
477,003
54,392
39,560
248,606
54,392
39,560
248,606
342,558
342,558
Investment incom•
Unrestricted Total Funds Unrestricted Totsl Funds
Funds
2025
Funds
2024
Income from investment properties
Income from listed investments
Bank interest and dividends
35,820
23,541
2,385
61,746
35,820
23,541
2,385
61,746
37,198
22,195
13,671
73,064
37,198
22,195
13,671
73.064
Other Income
Unrestricted Total Funds Unrestricted Total Funds
Funds
2025
Funds
2024
Gain on disposal on sale of investment
propety
Other income
93,162
7,632
100,794
93,162
7,632
100,794
2,465
2,465
2,465
2,465
32

The Ulster Society for Prevention of Cruelty to Animals
Company Limited by Guarantee
Notes to the Financial Statements (conllnued)
Year ended 31 March 2025
10. Costs of other trading activities
Unrestricted Total Funds Unrestricted Total Funds
Funds
2025
Funds
2024
Shop costs
Grooming
Charity Store- Banbridge
Charity Store - Lurgan
Charity Store - Lisburn
26,951
39,304
101,283
73,820
56,224
26,951
39,304
101,283
73,820
56,224
66,572
49,671
98,768
84,432
37,097
66,572
49,671
98,768
84,432
37,097
297,582
297,582
356,655
356,655
11. Investment costs
Unrestricted Total Funds Unrestricted Total Funds
Funds
2025
Funds
2024
Stockbroker Fees
6,289
6,289
4,594
4,594
12. Expendlture on charitable activitles by actlvity type
Activities
undertaken
directly Support costs
Total funds
2025
Total fund
2024
Prevenlion of cruelty and relief of
suffering
Veterinary
Wildlife Rescue
Animal Care
Special Investigations
Animal Welfare Advocacy
Fundraising
Governance costs
743,813
462,828
122,128
257,407
117,409
18,512
2.878
123,055
866,868
462,828
122,128
257,407
117,409
18,512
2,878
84,861
1,932,891
710,968
331,378
98,415
176,051
116,926
27,409
20,115
81,568
1,562,830
84,861
207,916
1,724,975
13. Analysls of 8UPPOrt costs
Prevention of
cruelty and
relief of
suffering Total 2025 Total 2024
Staff costs
Premises
General office
Governance costs
23,772
25,085
74,198
84,861
23,772
25,085
74,198
84,861
207,916
31,824
33,082
58,800
81,568
205,274
207,916
33

The Ulster Society for Prevention of Cruelty to Animals
Company Limited by Guarantse
Notes to the Financial Statements (¢ontinuedJ
Year ended 31 March 2025
14. Net gains on investments
Unrestricted Total Funds Unrestricted Total Funds
Funds
2025
Funds
2024
Gainsl(losses) on listed investments
73,054
73,054
109,194
109.194
15. Net income
Net income is stated after chargingl(crediting)'.
2025
2024
Amortisation of intangible assets
Depreciation of tangible fixed assets
Gains on disposal of tangible fixed assets
Fees payable for the audit of the financial statements
2,513
103,614
(93,162>
7,957
115,851
7,905
16. Staff Costs
The total staff costs and employee benefits for the reportlng period are analysed as follows..
2025
2024
Wages and salaries
Social security Costs
Employer contributions to pension plans
1,100.840
90,461
35,242
800,498
61,406
27,721
1,226,543
889,625
The average head count of employees during the year was 46 (2024.. 41). The average number of
full-time equivalent employees during the year is analysed as follows..
2025
No.
2024
No.
Number of staff
46
41
The number of employees whose remuneration for the year fell within the following bands, were..
2025
2024
No.
No.
£70,000 to £79,999
Key Management Personnel
Key management personnel include all persons that have authority and responsibility for planning,
directing and controlling the activities of the charity. The total compensation paid to key
management personnel for services provided to the charity was £156,982 (2024.. £163,429).
34

The Ulster Society for Prevention of Cruelty to Animals
Company Limited by Guarantee
Notes to tha Financial Statements (¢ontInu￿)
Year ènded 31 March 2025
17. Trustee remuneration and expenses
The charity trustees were not paid or received any other benefits from employment with the Charity
in the year (2024: £nil).
No trustees were reimbursed travel expenses during the year. (2024.. £24).
18. Intangible assets
Website
Cost
Additions
18,846
18,846
At 31 March 2025
Amortisation
Charge for the year
At 31 March 202S
2,513
2,513
Carrying amount
At 31 March 2025
16,333
At 31 March 2024
19. Tangible fixed assets
Long
Freehold leasehold Plant and Fixtures and
property
property machinery
fittings Equipment
Total
C08t
At 1 Apr 2024
Additions
Disposals
At 31 Mar 2025
766,913
765,678
4,085
83,472
486,314
84,545 2,186,922
16,520
20,683
5,865
47,153
(38,813) (18,602) {23,164) (80,579)
61,179
488,395
67,246 2,153,496
766,913
769,763
Depreciation
At 1 Apr 2024
Charge for the
year
Disposals
At 31 Mar 2025
107,366
487,076
67,172
389,182
64,131 1,114,927
15,338
53,669
6,381
20,932
7,294
103,614
(38,813) (14,872) (23,164) (76,849)
34,740
395,242
48,261 1.141,692
122,704
540,745
Carrylng amount
At 31 Mar 2025
644,209
229,018
26,439
93,153
18,985 1,011,804
20,414 1,071,995
At 31 Mar 2024
659,547
278,602
16,300
97,132
35

The Ulster Society for Prevention of Cruelty to Animals
Company Limited by Guarantee
Notes to the Financial Statements {conUnuedJ
Year ended 31 March 2025
20. Investments
Listed Investment
investments
properties
Total
Cost or valuatlon
At 1 April 2024
Additions
Disposals
Fair value movements
Other movements
2,046,141
659,822
(649,822) (229,314)
89,303
(9,999)
2,135,445
275,563
2,321,704
659.822
(879,136)
89.303
(9,999)
2,181,694
At 31 March 2025
46,249
Impalrment
At 1 April 2024 and 31 March 2025
Carrying amount
At 31 March 2025
2,135,445
46,249
2,181,694
At 31 March 2024
2.046,141
275,563
2,321,704
All investments shown above are held at valuation.
Investment propertles
The investment properties at Oldpark Road, Belfast are held at fair value. The fair value of these
properties are reviewed annually by trustees. The investment property at Divernagh Road,
Bessbrook was sold during the year for £330,000.
Flnanclal a88•ts held at falr valu•
The listed investments are valued by Davy Private Clients UK, Belfast and held at market value.
21. Stock8
2025
2024
Raw materials and consumables
50,369
50,551
22. Debtors
2025
2024
Trade debtors
Prepayments and accrued income
Other debtors
5,174
1,339,256
336,285
1,680,715
8,657
28,498
4,176
41,331
36

The Ulster Society for Prevention of Cruelty to Animals
Company Limited by Guarantee
Notes to the Financial Statements (contlnued)
Year ended 31 March 2025
23. Creditors: amounts falllng due wlthln one year
2025
2024
Bank loans and overdrafts
Trade creditors
Accruals and deferred income
Social security and other taxes
Pension
36,488
61,635
21,100
27,371
6,948
50,249
36,713
26.443
18,336
7,912
153,542
139,653
24. Creditors.. amounts falling due after more than one year
2025
2024
Bank loans and overdrafts
310,648
332,490
Included within creditors.. amounts falling due after more than one year is an amount of £135,273
(2024.. £168,846) in respect of liabilities payable or repayable by instalments which fall due for
payment after more than fi've years from the reporting date.
25. Penslons and other post rotlr•m•nt b?noflt8
Deflned contrlbutlon plan8
The amount recognised in income or expenditure as an expense in relation to defined contribution
plans was £35,242 (2024.. £27,721).
37

The Ulster Society for Prevention of Cruelty to Animals
Company Limited by Guarantee
Notes to the Financial Statements (eontlnu•dJ
Year ended 31 March 2025
26. Analysls of charltable funds
Unrestricted funds
At
Gains and 31 March 202
losses
At
1 April 2024
Income Expenditure
General funds
Development Fund
2,795,806
830,895
3,626,701
3,160,489 (2,149,803)
73,054
3,879,546
830,895
4,710,441
3,160,489 (2,149,803)
73,054
At
Gains and 31 March 202
losses
At
1 April 2023
Income Expenditure
General funds
Development Fund
2,200,922
1,000,000
2,176,954 (1,691,264)
(169,105)
2,176,954 (1,860,369)
109,194
2,795,806
830,895
3,626,701
3,200,922
109,194
The Trustees have set aside £1million to a designated fund for Ihe development of the Charity's
services across Northern Ireland, of which spend of £169,105 was allocated in the 23124 year with
£229,849 to dale, to expand the Special Investigations Unit. enhance our work in animal welfare
advocacy and improve our kennelling facilities.
Restrlcted funds
At
Gains and 31 March 202
losses
At
1 April 2024
Income Expenditure
DFC -Jobstart
Dormant Accounts Fund
Community Foundation
The Pet Fund
34,174
30,000
10,000
80,000
154,174
(34,174)
(30,0001
(10,000)
(60,000>
(134.174)
20,000
20,000
At
Gains and 31 March 202
losses
At
1 April 2023
Income Expenditure
DFC -Jobstart
Dormant Accounts Fund
Community Foundation
The Pet Fund
23,595
20,000
(23,595)
(20,000>
43,595
(43,595)
38

The Ulster Society for Prevention of Cruelty to Animals
Company Limited by Guarantee
Notes to the Financial Statsments (continu8dJ
Year ended 31 March 2025
27. Analysis of net assets between funds
Unrestricted
Funds
Restricted Total Funds
Funds
2025
Intangible assets
Tangible fixed assets
Investments
Current assets
Creditors less than 1 year
Creditors greater than 1 year
Net assets
16,333
1,011,804
2,181,694
1,964,800
(153,542)
(310,648)
4,710,441
16,333
1,011,804
2,181,694
1,984,800
(153,542)
<310,648)
4.730,441
20,000
20,000
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Intangible assets
Tangible fixed assets
Investments
Current assets
Creditors less than 1 year
Creditors greater than 1 year
Net assels
1,071,995
2.321,704
705,145
{139,653)
{332,490)
3,626,701
1,071,995
2,321,704
705,145
(139,653)
(332,490)
3,626,701
28. Ethlcal standards
In common with many other businesses of our siz8 and nature we use our auditors to prepare and
submit returns to the tax authorities and assist with the preparation of the financial statements.
29. Taxatlon
The Company is a registered charity, and as such is entitled to tax exemptions on income and
profits in furtherance of the charity's primary objectives.
30. Flnancial instrurnents
The carrying amount for each category of financial instrument is as follows..
202S
2024
Financial 15abllities m•asured at amortlsed cost
Loan payable falling due within 1 year
Loan payable falling due in more than 1 year but less than 5 years
Loan payable falling due after 5 years
36,487
175,376
135,273
50,249
163,644
168,846
347,136
382,739
39

The Ulster Society for Prevention of Cruelty to Animals
Company Limited by Guarantee
Notes to the Financlal Statements le¢￿tinU•d)
Year ended 31 March 2025
30. Flnan¢ial instrnments (conthiuedj
The Iwo long tem loans from Danske Bank are for a total of £300,000 each. The term of each loan
is 15 years wllh one loan on a ftoaling inleresl rate slruclure, and the other on a fixed rate of 4.10
per annum. Payments are made quarterly as per the Structured Term Loan Répayments
Schedule. Both of these loans are secured against 'Units 5 & 6. Cambane East Industrial Estste,
Newry, County Down"
31. Contlngoncl•s
A contingent liability exists to répay granls and Trust monies received should certain conditions
not be fulfilled by the charlty. In the opinion of the Trustees, the tems of the Letters of Offers have
been, or will be. complred wtth and no liability is expected.
32. Analy81s of changos In nèt debt
At
At 1 Apr 2024 Cash flows 31 Mar 2025
Cash at bank and In hand
Debt due wilhin one year
Oebl du8 after one year
813,263
(50,249)
1332,4901
230.524
(359,547)
13.761
21,842
253,716
136,488)
1310,648)
193,420)
1323,944)
33. R•lat•d pArtI••
The Trustees have considered guidance in relation to related party transactions and believe there
are no transactions that require dlsclosure.